Homework Answers
Answer to the above question:
Option e: $550.
Explanation: The GDP at market price includes the value of all final goods and services produced in a country in a year. So, The price at which the good is sold in the price is included in the GDP at market price. Thus, the market price of the good is included in the GDP at market price.
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Exhibit 18-2 shows the cost of the components used to produce a $550 smartphone. Exhibit 18-2...
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Initially you have two working phones: an older "2+1" smartphone and a newer "mexus 6". Unfortunately, during a peaceful dinner with your family, the beautiful "mexus 6" hits the floor, so its screen is completely shuttered, and the phone is unusable. For each phone you have several options in mind. For "2+1", you can either do nothing (keep it) or sell it for $100. Since your "mexus 6" was purchased within last 30 days, you are still eligible for purchasing...
The following graph shows the isoquant representing the combinations of capital and labor needed to produce...
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Total Product Total Variable Cost Total Fixed Cost $150 150 0 $ OL 1 50 2...
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Problem 2: Figure shows a pump and pipe network being used to transport heptane at 80F...
Problem 2: Figure shows a pump and pipe network being used to transport heptane at 80F to a large, elevated storage tank that is closed, but vented to ensure that the pressure above the hetane is atmospheric. The volumetric fiow rate of the heptane is 400 gpm. (a) Determine the pressure drop (psi) that the pump must overcome Liquid level Large covered and vented storagt tank Al pipes are 6-nom sid cast iron Al fattings and valves are 6 nom...
Help please Output Total Cost 0 18 25 36 48 65 84 4 6 Refer to...
Help please
Output Total Cost 0 18 25 36 48 65 84 4 6 Refer to the table of output and total cost above. What is the total fixed cost when the output is 4? A) 2 c) $12 D) $40 E) $48 History Books QTotal Utility Q Total Utility Novels 0 0 0 180 1 140 300 260 -390 13 4 450 4360 5 480 5 380 390 495 Refer to the table above. The price of history books...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total...
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Consider the following table in which columns (1) and (2) give information about the initial short-run...
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The figure shows the marginal cost (circles) and the average variable cost (crosses) of a firm...
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The following graph shows the domestic market for oil in the United States, where Sp is...
The following graph shows the domestic market for oil in the United States, where Sp is the domestic supply curve, and Dp is the domestic demand curve. Assume the United States is considered a large nation, meaning that changes in the quantity of its imports due to a tariff influence the world price of oil. Under free trade, the United States faced a total supply schedule of SD+w, which shows the quantity of oil that both domestic and foreign producers...
An important application of regression analysis in accounting is in the estimation of cost. By co...
An important application of regression analysis in accounting is
in the estimation of cost. By collecting data on volume and cost
and using the least squares method to develop an estimated
regression equation relating volume and cost, an accountant can
estimate the cost associated with a particular manufacturing
volume.
In the Microsoft Excel Online file below you will find a sample
of production volumes and total cost data for a manufacturing
operation. Conduct a regression analysis to explore the
relationship...
Initially you have two working phones: an older "2+1" smartphone and a newer "mexus 6". Unfortunately, during a peaceful dinner with your family, the beautiful "mexus 6" hits the floor, so its screen is completely shuttered, and the phone is unusable. For each phone you have several options in mind. For "2+1", you can either do nothing (keep it) or sell it for $100. Since your "mexus 6" was purchased within last 30 days, you are still eligible for purchasing...
The following graph shows the isoquant representing the combinations of capital and labor needed to produce 10 left-handed can openers. Assume that diminishing marginal returns characterize the production function. (Hint: click a point on the graph to see its coordinates.) 500 450 400 360 300 LABOR (Workers) 260 + 200 160 + * 100 50 o 12 3 18 15 o 21 Using the information provided on the graph, complete the following table with the changes in capital and labor...
Total Product Total Variable Cost Total Fixed Cost $150 150 0 $ OL 1 50 2 150 75 3 150 105 4 150 145 5 150 200 6 150 270 7 150l 360 8 150 475 9 150 620 10 150 800 Refer to the accompanying cost table. If a competitive firm faced with these costs finds that it can sell its product at $60 per unit, it will o produce 6 units and incur a loss of $30. o...
Problem 2: Figure shows a pump and pipe network being used to transport heptane at 80F to a large, elevated storage tank that is closed, but vented to ensure that the pressure above the hetane is atmospheric. The volumetric fiow rate of the heptane is 400 gpm. (a) Determine the pressure drop (psi) that the pump must overcome Liquid level Large covered and vented storagt tank Al pipes are 6-nom sid cast iron Al fattings and valves are 6 nom...
Help please
Output Total Cost 0 18 25 36 48 65 84 4 6 Refer to the table of output and total cost above. What is the total fixed cost when the output is 4? A) 2 c) $12 D) $40 E) $48 History Books QTotal Utility Q Total Utility Novels 0 0 0 180 1 140 300 260 -390 13 4 450 4360 5 480 5 380 390 495 Refer to the table above. The price of history books...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
Consider the following table in which columns (1) and (2) give information about the initial short-run aggregate supply curve for the fictional country of Zerovia. Column (3) shows total employment at different output levels. There are eight million workers in the total labour force. Usually, 500 000 workers are structurally or frictionally unemployed. TABLE ONE show (1) Price Level (Index) 115 110 105 100 95 750 (2) (3) (5) Aggregate Total Output Output tout Output OutputEmployment Demanded Demanded Demanded billion...
The figure shows the marginal cost (circles) and the average variable cost (crosses) of a firm in a competitive market. The firm always makes the choice to maximize its profit. Price, Cost ($) 5,000 ------ --O If the market price of the product is $3,400, what is the firm's producer surplus? 3,400 3,200 +----- --- ------------ O A. $880 O B. $5,700 OC. $1,700 OD. $3,250 2,000 1.700 1,000 -------- ====== ---------- ==== 1 2 6 7 Quantity 3 4...
The following graph shows the domestic market for oil in the United States, where Sp is the domestic supply curve, and Dp is the domestic demand curve. Assume the United States is considered a large nation, meaning that changes in the quantity of its imports due to a tariff influence the world price of oil. Under free trade, the United States faced a total supply schedule of SD+w, which shows the quantity of oil that both domestic and foreign producers...
An important application of regression analysis in accounting is
in the estimation of cost. By collecting data on volume and cost
and using the least squares method to develop an estimated
regression equation relating volume and cost, an accountant can
estimate the cost associated with a particular manufacturing
volume.
In the Microsoft Excel Online file below you will find a sample
of production volumes and total cost data for a manufacturing
operation. Conduct a regression analysis to explore the
relationship...
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